Last year an automotive technician had a gross income of $32,200 of which she contributed 6% to her 401 (k) plan. If she got paid weekly, how much was deducted from each paycheck for the 401 (k) plan?

Question

Mathematics

Snuffles

4 November, 01:35

Last year an automotive technician had a gross income of $32,200 of which she contributed 6% to her 401 (k) plan. If she got paid weekly, how much was deducted from each paycheck for the 401 (k) plan?

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Chung · Answer 1

Since there are 52 weeks in a year, we find her weekly paycheck amount by dividing her total salary, 32200, by 52:

32200/52 ≈ $619.23 (we round to the nearest cent)

She takes 6% of her check and invests it in her 401 (k). 6% = 6/100 = 0.06. We multiply her weekly check amount by 0.06 to find how much was invested each week:

$619.23 (0.06) ≈$37.15 (again round to the nearest cent).